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Mar 02 - 04:55 AM

EUR/USD - An Ugly Situation For The Many Still Long EUR/USD

By Jeremy Boulton  —  Mar 02 - 02:37 AM
  • Yesterday EUR/USD broke and closed below daily Ichimoku cloud base at 1.2054

  • Pair reached 1.2028, closed 1.2049 then today broke 100-DMA at 1.2027

  • Asia's range 1.2005-50 EBS, Europe's high is 1.2027, the 100-DMA

  • Likely to see progression towards lower 20-Day Bollinger band 1.1982

  • 2021 low at 1.1952 exposed by this week's bearish breaks

  • Traders still hold many bullish bets ($21bln)

  • Correction targets: 50% Nov-Jan rise 1.1975, 61.8% 1.1887, 76.4% 1.1778



EURUSD Click here

EURUSD Click here

Source:
Refinitiv IFR Research/Market Commentary

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